Keppel piles pressure on SGX with M1, T&T buyouts

Singapore Exchange is on the verge of losing two more big names as Keppel looks to buy out its affiliate telco and infrastructure unit for up to $1.3 million, extending a run of take-privates.

Infrastructure-to-property conglomerate Keppel Corporation announced two separate acquisitions worth a combined S$1.8 billion $1.3 billion on Monday that could potentially lead to the removal of two more listed companies from the Singapore stock exchange.

The bigger of the two deals is a general voluntary offer for shares in M1, the smallest of Singapore’s three telecom operators by number of subscribers.

Keppel is making an all-cash joint offer with Singapore Press Holdings SPH for the 67% stake they do not already own in the company, which is worth about S$1.6 billion based on the offer price of S$2.06 per share....

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